Justin Bieber pays over a million dollars too much for Bored Ape #3001


from Sebastien Glanzer
They don’t own the art itself or any type of copyright, but especially celebrities with wide reach are investing multi-million dollars in NFT images. In Justin Bieber’s case, that can sometimes be a good million dollars more than the actual value of a generic monkey photo.

NFTs (non-fungible tokens) are a hit with crypto fans right now…and a growing number of big-budget celebrities. Whether you think of it as digital art or a modern Ponzi scheme, NFTs are increasingly becoming central to society. Blockchain locations, which are visually represented with images of random monkeys, are particularly popular with celebrities with high reach. individuals and also Gaming companies see the future of blockchain technology and NFTs, but are often criticized for it. Even those who claim to understand the underlying technology and have a large collection of NFTs often suffer heavy losses.

‘Bored Monkey #3001’ is worth $1 million more to Justin Bieber than he probably is

The pop star recently introduced Bored Ape #3001 from the Bored Ape Yacht Club NFT Collection to her 219 million Instagram followers. In the description of the message, he wrote lines from one of his last songs: “What if you had everything, but nobody to call, maybe you would know me then. Because I had everything but nobody Listen and it’s just f****n lonely.”

In total, Justin Bieber reportedly owns 619 NFTs from 49 different collections in the OpenSea NFT Market. The singer seems to have high hopes for his monkey photos, but he spent way more on #3001 than the blockchain link is worth.

Five times the price of a picture of a monkey – Internet laughs

Bieber spent 500 Ethereum on the digital artwork, which converted $1.29 million is equivalent to. The market price of Bored Ape #3001 however, sits at 104 ETH, which is closer to $208,000 is equivalent to. Thus, the singer passed this visual link to the blockchain five times. No wonder he is ridiculed for it on Instagram and other social media platforms.

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